Orastie-based Fares posts 8.7m-euro sales of tea

Ziarul Financiar 15.05.2008
Orastie-based Fares, a local producer of teas and medicinal plants, forecasts an over 8.7 million-euro turnover for this year, up 30% on 2007. "Our sales increase will take place proportionately, with new products to be added to each segment of teas we currently manufacture. We think the healthy eating trend will be reflected in higher sales on the Romanian tea market, a trend which has been increasingly visible over the last two or three years," Adelina Hanciu, brand manager of Fares, told ZF. According to the Fares representative, the local tea market is quite well established, especially on the lower-to-medium segment. Fares officials believe we will witness a diversification of the supply in the premium segment, due to the emergence of new players on the market. Ove r the last two years, the company has invested around one million euros in retooling and in improving the production flow to match the level required by the European Union, and this year, Fares intends to continue investments in purchasing equipment and in modernising its labs.